Bharti Airtel is estimated to have garnered over ₹5,200 crore from the first round of payment in its recently-concluded rights issue, as the telco's special committee approved allotment of 39.2 crore equity shares to eligible applicants.
The applicants paid ₹133.75 per share on application, with the balance sum to be paid in two more additional calls as may be decided by the board, the company said in a regulatory filing.
"...the special committee of directors for rights issue, at its meeting held today...approved the allotment of 392,287,662 rights equity shares to the eligible applicants, with ₹133.75 paid on application and balance to be paid in two more additional calls...," the filing said.
This implies that Airtel has raised an estimated ₹5,243 crore from the initial tranche.
Pursuant to the allotment, the paid-up equity share capital of the company has also increased.
"...the paid-up equity share capital of the company has increased from ₹27,460.14 million to 27,950.49 million consisting of 5,492,027,268 fully paid-up equity shares of ₹5 each and 392,287,662 partly paid-up equity shares (₹1.25 partly paid-up)," it added.
Bharti Airtel's about ₹21,000 crore rights issue had opened on October 5 and closed on October 21, 2021, and was oversubscribed.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.